The Post reports, with characteristic relish, that Kimora's Fabulosity for J.C. Penney launch party was kind of a train wreck. "A guest tells us the event at Hiro was "so disorganized" that several people walked out because there were no seats. "It was a disaster," said our spy. "When we complained, we were offered bottles of champagne to stay." Another source said attendees were groping for freebies and stealing diamond-shaped Fabulosity perfume bottles." [Page Six]

The CEO puts a brave face on it: "In what everyone recognizes is a difficult economic environment, the cosmetics market is proving resilient, and L'Oréal is continuing to outperform the market while strengthening its worldwide positions." [WWD]

Well, at least L'Oreal is being sued by a former employee who claims the company knowingly sold products to foreign countries containing banned chemicals! [UPI]

Let Armani put you through school! The Italian fashion giant just introduced a new scholarship that provides a young fashionista with a master's degree in E-Fashion at the Business School of the MIP in Milan and a work-study with Armani's online division. Quoth Giorgio, "In today's world, on-line shopping offers a new way of making purchases for an ever-increasing number of fashion clients. The future lies in the Web and I am proud to be the first designer to support this new master's course. I hope that this academic program will assist aspiring students to express their full potential." [Fashion Week Daily]

More on that weird short film for Tod's, "Pashmy Movie" (that's the name of the purse) starring Gwyneth, that Dennis Hopper for some reason directed. "There is a whole Fellini-like ending to the story that is really beautiful," said the famously crazy thesp. [W]

WalMart's brief stab at "trendiness" a dismal failure. "Wal-Mart's efforts in 2006 to compete with Target Corp and sell hipper clothes, such as skinny jeans and velvet blazers, backfired with its shoppers, who were looking for basic, affordable clothing. That misstep left Wal-Mart with heaps of unsold merchandise it was forced to mark down, hurting sales and margins." [Reuters]

In news that should rock the foundations of the worlds of various Kardashians, "cleavage is dead" for fall. [The Guardian]

Some poor girl who was a contestant on Germany's Next Top Modelis being pilloried for a sex tape allegedly containing "wild erotic games and unbridled sex". NB: Don't make sex tapes, go on reality shows. [The Sun]

Model/girlfriend of DiCaprio, Bar Rafaeli, is getting all kinds of work. [WWD]

Thing about being an intern at a fashion mag is, there's not much to do. And yes, I speak from bitter experience. So BlackBook has filled the busywork void by giving its interns their own Tumblr. [BlackBook]

It's that time of year again: Uniqlo's annual Grand Prix T-shirt design contest, with a jackpot of thirty grand. [fashionista]

San Francisco's DeYoung museum nabs the first U.S. YSL retrospective; NY fumes! [Fashionista]

"On a date with a nice fellow, I wore a wig with long hair and bangs - which I wore when I met him at a singles dance. I don't look as nice without the wig; my own hair is thin and unattractive. My date seems to like me a lot and wants to see me again soon. But I don't want to wear the wig, which is heavy and uncomfortable, every time I see him. What do I do? (Years ago when I was dating someone I really liked, I took off my wig and he stopped calling.)" What will the New York Times advise?! [New York Times]

We sorta thought companies had been doing this for years, but apparently "His and Hers" fragrances are the future of perfume. [ElleUK]